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Tata AIA Life Insurance
Retirement and Pension Calculator
A retirement and pension calculator is an online tool that helps you determine how much money you need to invest in a retirement plan to ensure financial security and a regular income throughout your life after retirement. Use our retirement and pension calculator, a simple and convenient retirement planner that can help you make a wise financial decision to lead a peaceful life during your golden years. Here is what you need to know about the retirement and pension calculator.
A Non-Linked, Non-Participating, Annuity Plan (UIN:110N161V08)
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Planning
Fortune Guarantee Pension
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RETIRED LIFE
What Is a Retirement and Pension Calculator?
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Retirement planning simply means creating a long-term and sustainable financial plan for your retirement years. Such a financial plan is not only meant to support you and your needs but also that of your family members.
A retirement and pension calculator is an easy-to-use online tool that will key in a few inputs about yourself and your financial requirements to provide details on how much you need to invest, the premium payment term, and the annuity amount for your retirement plan.
The pension calculator is user-friendly, less time-consuming, and gives valuable insights into your retirement planning objectives. In addition, you can revise the inputs to try different combinations and decide on the best retirement plan. While choosing retirement plans in India, always ensure that you are able to select a retirement plan with a guaranteed* sum assured or a total financial corpus that will be adequate for your financial needs.
How Does the Pension Calculator Work?
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A retirement and pension calculator will require you to provide details, such as your age, smoking habits, gender, etc., and other factors, including how much you want to invest, the type of annuity desired, the premium payment term, and the premium payment mode.
After you provide these inputs, the pension calculator will provide the results corresponding to your applicable premium, premium payment term, and annuity amount.
Depending on your age and the funds you want to invest in the retirement plan, the retirement planning calculator will multiply this amount with a certain compounding rate to present a close estimate of the retirement corpus that you will be able to save over the years.
If you are 40 years old and wish to retire at the age of 65 years, it means you have 25 years in hand to save for your retirement. Assume that you will be saving at least 10% of your annual income each year for your retirement, and basis the plan chosen, you will be able to see in the online retirement planning calculator how much you can save when you reach retirement age.
If you start planning your retirement earlier, you will be able to get higher returns, and the compounding will also be greater as the investment tenure is longer.
How To Use a Retirement Planning Calculator?
Using a retirement calculator not only makes it easier for you to create a robust financial plan for your retirement but also helps save a lot of time as it is a quick and efficient online tool.
Simple steps to use our pension calculator.
Provide Details - Provide details such as your name, date of birth, gender, etc., and click on Calculate Premium.
Analyze or Get Quotes - Go through our Suitability Analysis to provide further details and get our recommendations or proceed to Get Quotes.
Determine Annuity Amount - Provide details such as Premium Payment Mode, Premium Payment Term, amount you want to invest, etc., to decide on the annuity amount and the applicable premium.
Popular Tata AIA Life Insurance Retirement Plans
A Non-Linked, Non-Participating, Annuity Plan
(UIN:110N161V08) *T&C apply
Tata AIA
Fortune Guarantee Retirement Ready
Individual Non-Linked, Non-Participating, Pension Plan
(UIN: 110N175V02) | 1T&C apply
Tata AIA
Saral Pension
A Single Premium Non-Linked, Non-Participating, Individual, Immediate Annuity Plan (UIN: 110N159V07) | 3T&C apply
Benefits of Retirement Planning Pension Calculator
Plan for Financial security
Plan for Financial security
Plan for Financial security
Plan for Financial security
With the retirement planning calculator, you can determine the funds required to secure your retirement life by ensuring the necessary funds for your routine financial needs, medical expenses, etc., for a dignified life without compromising your lifestyle.
Financial Clarity
Financial Clarity
Financial Clarity
Financial Clarity
As the pension plan calculator offers options to determine the annuity amount, you can calculate the amount required for the fulfillment of your retirement goals and make precise financial decisions. Click here to know how you can plan for your retirement even at 50.
Saves Money
Saves Money
Saves Money
Saves Money
An online pension calculator is a free tool, and hence, you need not spend any money to use it. You can access it freely on our website and decide on your retirement investment by providing the necessary details exclusively free of cost.
Compute and Compare Returns
Compute and Compare Returns
Compute and Compare Returns
Compute and Compare Returns
Depending on the results of the retirement calculator, you can compare the returns on your retirement fund based on the different factors, including premium payment term, premium payment mode, and annuity option, to devise the right strategy and amount for the investment.
Why Choose Tata AIA Life Insurance Retirement and Pension Plans?
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![Guaranteed Income Post Retirement]( "Guaranteed Income Post Retirement")
Guaranteed* Income Post Retirement
Get assured income post your retirement with customizable plan features
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![Faster Claim Settlement: Assured 4 Hours of Claim Settlement]( "Faster Claim Settlement: Assured 4 Hours of Claim Settlement")
Faster Claim Settlement
Assured 4 hours of claim settlement**
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![Tata AIA Assurance: 99.01% Individual Death Claim Settlement Ratio]( "Tata AIA Assurance: 99.01% Individual Death Claim Settlement Ratio")
The Tata AIA Assurance
99.01% Individual Death Claim Settlement Ratio$ in FY 2022 - 23
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![Tailored Life Insurance Plan - Customize Your Coverage]( "Tailored Life Insurance Plan - Customize Your Coverage")
Personalized Plan
Flexibility to choose the life cover, add ons and payout that’s right for you.
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![500+ Branches Across Major Cities in India]( "500+ Branches Across Major Cities in India")
500+ Branches
Presence across major cities in India
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![Convenient Premium Payment Options]( "Convenient Premium Payment Options")
Pay your Way
Flexibility to choose premium payment mode as per convenience
*T&C apply / **T&C apply
Quick Steps for Retirement Planning
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01
Purpose Of the Plan
Understanding the purpose of your retirement plan is crucial to retirement planning. Based on your future financial commitments, you can opt for a pension plan with a regular income or a retirement plan with a lump sum benefit. -
02
Compare Plans
It is always better to look through all your options, the features, benefits, and offerings to ensure that you pick a retirement plan that is right for you. With a pension calculator, you can determine the desired annuity amount at an affordable premium by comparing the flexible features, such as the premium payment term, premium payment mode, and the annuity option. -
03
Adequate Finances
Ensure you are able to save the retirement funds as estimated on the pension calculator. This is because the inflation rate and the interest rate are also calculated to help give you a closer estimate of how much you need to save. If you need to cut down on some unnecessary current expenses to save for your retirement, go for it, but do not compromise on your retirement planning. -
04
Plan Options
You can choose between annuity plans, such as the deferred annuity plan if you want to receive the benefits after the premium payment term or an immediate annuity if you want to invest a lump sum and receive the benefits soon after. -
05
Maturity Benefits
Once your retirement plan becomes mature, the pension benefits are paid out either as a lump sum, a regular income, or a combination of both for you to meet your goals. Most retirement plans offer regular income as a payout option. -
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Emergency Needs
Even though you may have other savings for emergencies, make some provision for emergency funds in your retirement planning as well. Any medical emergency can consume a lot of financial resources, leading to depleted savings. Therefore, some extra savings can always be much more beneficial. If possible, do not touch your emergency fund at all unless the worst comes to pass.
Other Types of Calculators
Savings
Calculator
A savings calculator helps you calculate the premiums you need to pay to get life insurance coverage for your family and also build a long-term savings corpus throughout the policy tenure.
Term Insurance
Calculator
With a term insurance calculator, you can understand how much life insurance cover is required to secure the financial future of your loved ones.
ULIP
Calculator
A Unit-Linked Insurance Plan or ULIP calculator enables you to know the returns you can receive on your policy and the premium amount you need to pay for the life insurance cover as well as investment.
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Frequently Asked Questions About Retirement and Pension Calculator
What is retirement planning?
Retirement planning refers to creating a long-term financial plan to accumulate funds for your life after retirement to manage routine expenses, future financial commitments, and other unprecedented emergencies. You can choose a retirement pension plan, depending on whether you want to receive a guaranteed$ regular income or if you want a lump sum benefit from your retirement corpus.
Why should you plan for your retirement?
Planning for retirement is necessary to ensure adequate funds to manage the expenses of life after retirement, unprecedented emergencies, funds for your retirement goals and dependent family members to lead a peaceful life without compromising the current lifestyle.
Is it necessary to use a retirement calculator?
It is important to use a retirement calculator before planning to invest in a retirement plan for the following reasons:
To determine the affordable premium for the required annuity amount
To find the right policy features, such as the premium payment term, premium payment mode, and annuity option, that will suit your financial needs
To make well-informed decisions on long-term financial planning
To ensure the necessary funds to lead a dignified lifestyle without compromising your lifestyle.
How much to save for retirement?
The amount you need to save or regularly invest for your retirement will depend on your current income and retirement needs.
Determine retirement needs - While determining your retirement needs, you need to consider your current lifestyle, routine expenses, medical expenses, and other specific financial needs. In addition, you need to account for the inflation rate to adjust the requirements to suffice for the needs pertaining to later years of life after retirement.
Find the amount to save - Further, consider your current income and expenses to determine how much you can save for the above-determined retirement needs regularly over the desired period without affecting your lifestyle. It can be 10% for a 20-year-old, 15% for a 30-year-old, and so on. The desired period can be the number of years to retirement or until you accumulate the required corpus.
Click here to learn more about how to calculate the retirement corpus.
How is the pension amount calculated?
The pension amount can be calculated using a pension calculator based on the amount you can invest in the retirement plan, affordable premium payment term, premium payment mode and the desired annuity option. It should be aligned with your basic and major financial requirements for life after retirement.
What should I consider when planning for my retirement?
When planning for your retirement, you need to consider various factors such as your routine expenses, retirement goals, future financial commitments, inflation, medical expenses, retirement age, dependent family members, and unprecedented emergencies.
Will the retirement calculator also calculate rider~ premiums?
No, the retirement calculator does not calculate rider~ premiums. You will have to choose the riders~ you want to add to your plan and pay the premiums as specified in the policy.
Can I calculate how much premium I should pay for my retirement plan?
Yes, you can calculate the premium and the annuity amount for your retirement plan with the help of our Tata AIA Life Insurance Retirement and Pension calculator. However, you will not be able to calculate the rider~ premiums and will need to account for them separately.
How much money do I need to retire comfortably?
The amount you need to retire comfortably will depend on your current lifestyle, expenses, and future financial commitments. However, generally, a 30X thumb rule is popularly accepted. It means your retirement corpus should be 30 times your current annual expenses to retire and live comfortably.
Will there be a life insurance cover with my retirement plan?
If you purchase a traditional pension plan that only helps you save for your retirement, you may not be able to avail of a life insurance cover to protect yourself and your family. However, at Tata AIA, we offer retirement plans that come with a life insurance cover that is meant to secure your loved ones in case of an emergency.
How many types of annuity plans are there?
There are mainly two types of annuity plans: immediate and deferred annuity plans. Immediate annuity plans start providing the pension amount immediately after you purchase the retirement plan, and the deferred annuity plan provides the pension amount starting for a later date after you purchase and start investing in the pension plan.
How do I buy a retirement plan?
If you want to buy a retirement plan from Tata AIA Life Insurance, you can visit our official website for retirement plans or connect with us.
Popular Searches
The complete name of Tata AIA Fortune Guarantee Pension is Tata AIA Life Insurance Fortune Guarantee Pension (UIN:110N161V08) - A Non-Linked, Non-Participating, Annuity Plan. Multiple options are available in this plan: Immediate Life Annuity, Immediate Life Annuity with Return of Purchase Price, Deferred Life Annuity (GA-I) and with Return of Purchase Price, Deferred Life Annuity (GA-II) and with Return of Purchase Price.
The complete name of Tata AIA Saral Pension is Tata AIA Life Insurance Saral Pension (UIN: 110N159V07) - A Single Premium, Non-Linked, Non-Participating, Individual, Immediate Annuity Plan
Tata AIA Fortune Guarantee Retirement Ready (UIN: 110N175V02) - Individual Non-Linked, Non-Participating, Pension Plan. Multiple options are available in this plan: My Pension, Partner Pension, and Partner Pension Plus.
*The word Guaranteed and Guarantee means the annuity payout is fixed at inception of the policy and will be payable for whole of life or till death of the Annuitant(s).
**Applicable to only non-early claims with more than 3 years of policy duration, non-investigation cases, up to Sum Assured of Rs. 50 lakhs. Applicable for branch walk in. Time limit to submit claim to Tata AIA Life Insurance is 2 pm on working days. Subject to submission of complete documents. Not applicable for ULIP policies and open title claims.
$Individual Death Claim Settlement Ratio is 99.01% for FY 2022 - 23 as per the latest annual audited figures.
~Riders are not mandatory and are available for a nominal extra cost. For more details on benefits, premiums and exclusions under the Rider, please contact Tata AIA Life's Insurance Advisor/Intermediary/ branch.
#Income Tax benefits would be available as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax benefits available to you.
1Guaranteed Additions accrue at the end of each completed policy year, subject to all due premiums being paid and form a part of the Death Benefit offered under the option.
2Illustrated annuity rate (IRR) is for joint life where one of the annuitants is 60 years of age while the other is 69 or above for plan type - Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of the last survivor. IRR is a discount rate that makes the net present value (NPV) of all cash flows equal to zero in a discounted cash flow analysis.
3The word Guaranteed, and Guarantee means the annuity payout is fixed at inception of the policy and will be payable for whole of life or till death of the Annuitant(s)
4Income Tax Benefits would be available under section 10(10A) of the Income tax act, 1961 as per the prevailing income tax laws, subject to fulfillment of conditions stipulated therein. Income Tax laws are subject to change from time to time. Tata AIA Life Insurance Company Ltd. does not assume responsibility on tax implication mentioned anywhere in this document. Please consult your own tax consultant to know the tax bene¬fits available to you.
For more details on risk factors, terms, and conditions, please read the sales brochure carefully before concluding a sale.
Insurance cover is available under the products.
Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the insurance company.
Risk cover commences along with policy commencement for all lives, including minor lives.
Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
Insurance cover is available under the product.
The products are underwritten by Tata AIA Life Insurance Company Ltd.
The plans are not a guaranteed issuance plan and it will be subject to Company’s underwriting and acceptance.
L&C/Advt/2024/Jan/0292
